Smart Ways to Grow Your Savings Safely

Looking for safe ways to significantly grow your savings? You’re not alone. Many people are looking for savings strategies that offer predictable growth. Fortunately, there are proven options that make this possible, such as  money market savings accounts and term certificates.

Start with a clear savings plan that sets you up for success, then dive into specific account options.

Build Your Savings Plan

A strong savings strategy starts with clarity and purpose. Lay the groundwork first, then explore account options.

• Create an emergency fund: Aim to save three to six months of living expenses that can be deposited in to a liquid account, such as a money market account, so you can access funds quickly if unexpected costs arise. This emergency fund provides a safety net for events like job loss, large medical bills, or car repairs, helping you stay financially secure without relying on credit. Plus, by keeping your savings in a money market account, you’ll earn interest and help your money grow over time.
• Plan for the long term: Create a savings strategy that aligns with your goals and stick with it. Avoid making impulsive changes based on short-term market fluctuations or trends. Consistency helps your money grow steadily over time and reduces the risk of setbacks caused by reactionary decisions.
• Mix it up: Compare different savings options and interest rates to find the best fit for your goals. Spreading your money across multiple savings accounts may help you maximize earnings and flexibility.

Find Savings Options That Work for You

First Entertainment savings accounts are federally insured by the National Credit Union Administration (NCUA) and offer dependable growth:

• First500 Savings: Begin your savings journey today with our First500 Savings account. Earn 5.00% APY¹ on your first $500 when you meet simple requirements like setting eStatements and direct deposit with a Value Checking account.
• Money Market Savings: Ideal for those maintaining higher balances, these accounts typically offer competitive interest rates along with easy access to funds. They combine the benefits of savings and checking by providing liquidity while earning more than a standard savings account.
• Term Certificates: These certificates offer a fixed interest rate over a set term, making them a reliable way to grow your money. The longer the term and the larger your deposit, the higher your earnings.

Looking to Explore Investments? We Can Help

If you’re thinking about adding investments to your financial plan, our First Entertainment Investment Services team is here for you. We’ll help you create a strategy that feels right for you and supports your goals.

With the right mix of planning and account choices that fit your lifestyle, you can build a solid savings foundation and take control of your financial future. Take the next step toward financial confidence by choosing savings options that support your goals.